| The S&P 500 and Nasdaq closed at record highs yet again Wednesday. The Dow is coming off its highest close since Feb 1. | | Dow Jones Fut | | 26,124.57 | | Current: | 26,085.00 | | Change: | -62.00 | | Impl. Open: | -52.57 | | | S&P 500 Fut | | 2,914.04 | | Current: | 2,910.75 | | Change: | -4.00 | | Impl. Open: | -3.99 | | | NASDAQ 100 Fut | | 7,660.18 | | Current: | 7,656.50 | | Change: | -12.25 | | Impl. Open: | -10.18 | | | Russell 2000 Mini | | 1,734.75 | | Current: | 1,733.80 | | Change: | -2.80 | | Impl. Open: | -1.75 | | | Quotes as of 8/30/2018 8:10:57 AM ET |
U.S. stock futures were lower this morning, spelling a potential end to the four-day win streak for the Dow, S&P 500, and Nasdaq. The latter two closed at record highs yet again Wednesday. The Dow is coming off its highest close since Feb. 1. (CNBC)
Other earnings out this morning include the latest numbers from Abercrombie & Fitch (ANF), Dollar General (DG), Dollar Tree (DLTR), Signet Jewelers (SIG), and Michaels (MIK). Lululemon (LULU) and Ulta Beauty (ULTA) issue quarterly earnings after today's closing bell. (CNBC)
Amazon (AMZN) crossed the $2,000 per share level in premarket trading, a day after Morgan Stanley raised its price target to $2,500, the highest on Wall Street, representing a $1.2 trillion valuation. Investors will wait to see whether Amazon can close today above $2,000 for the first time ever. (CNBC)
Two economic reports are out this morning concurrently at 8:30 a.m. ET, with the government releasing both weekly initial jobless claims as well as personal income and spending for July. (CNBC)
Less than a day after a new report confirmed that nearly 3,000 people on Puerto Rico died as a result of Hurricane Maria in 2017, Trump said at a White House event he believes his administration "did a fantastic job" responding to the storm. (CNBC)
Trump has been personally lobbying Republican senators to turn on Attorney General Jeff Sessions, according to Politico. He also reportedly raised the prospect of firing Sessions last week in a phone call with South Carolina's Lindsey Graham.
Special counsel Robert Mueller asked a federal judge for more time to decide whether to seek a retrial for former Trump campaign boss Paul Manafort on 10 criminal charges that jurors were unable to reach a verdict on last week. (CNBC)
Alphabet's (GOOGL) Google unit continues to come under attack from Trump, who said the search engine didn't promote his State of the Union address. Google said it did, in fact, do so. He also accused the company of anti-conservative bias. (CNBC)
California has become the first state to abolish cash bail. Now, beginning in October 2019, most suspects arrested for low-level offenses or nonviolent felonies will be released within 12 hours of being booked. (Axios)
General Motors (GM) suffered a setback in its plan to increase electric vehicle production in China, according to the Wall Street Journal. GM found that China-made batteries did not meet its performance and safety standards during testing.
Apple (AAPL) has acquired a start-up focused on making lenses for augmented reality glasses, a signal the tech giant has ambitions to make a wearable device that would superimpose digital information on the real world. (Reuters)
Starbucks' (SBUX) Frappuccino is getting a makeover. The U.S. coffee giant is putting its drink on a diet, looking to reduce its high sugar levels, which have scared away health-conscious consumers and hurt sales. (WSJ)
Salesforce (CRM) reported adjusted quarterly profit of 53 cents per share, 6 cents above estimates. The cloud software company's revenue also beat forecasts, but it also gave a weaker than expected profit outlook for the current quarter as it invests money to help boosts sales.
PVH (PVH) earned an adjusted $2.18 per share for the second quarter, beating consensus forecasts by 8 cents, and the apparel maker saw revenue beat estimates. The maker of Calvin Klein, Tommy Hilfiger, and other apparel brands also raised its profit forecast for the year, although its current quarter earnings guidance falls below estimates.
Guess (GES) beat estimates by 4 cents with adjusted quarterly profit of 36 cents per share, but the apparel maker's revenue fell below Street forecasts. The company also said it was on track to end the year with all of its business units profitable.
Ford (F) remains on watch after Moody's downgraded its rating of the automaker's debt to one level above junk. Moody's cited shrinking profit margins in North America and continued losses in Europe, among other factors, but Ford said it is making progress in boosting its outlook and that the market will recognize that progress.
Tempur Sealy (TPX) accused former customer Mattress Firm of selling copycat products that are "strikingly similar" to tis Tempur-Pedic brand, in a complained filed in federal court in Tampa, Florida. A long running supply deal between the two ended last year in a pricing dispute.
Tronc (TRNC) said it would not comment on market rumors, following reports a buyer was interested in the media company. The "no comment" was issued during the company's earnings conference call, following its report of a lower than expected loss and a raised earnings outlook for the full year.
Sorry, "Top Gun" fans. The release date for Tom Cruise's anticipated sequel will be delayed one year to June 26, 2020. Filmmakers will have the opportunity to work out the logistics of presenting flight sequences with new technology and planes. (USA Today)
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